AAB Organizes the first institutional roundtable between Commercial Banks and Electronic Money Institutions on developments in payment services
As part of the joint efforts to strengthen cooperation among financial market actors, the AAB took the initiative and organized the first institutional roundtable between commercial banks operating in Albania and representatives of electronic money and payment institutions (EMIs), with the participation of the Bank of Albania.
To ensure a comprehensive and effective discussion of the issues raised, AAB secured the participation of representatives from the Compliance and IT departments of all its member banks.
In his opening remarks, AAB Secretary General Mr. Spiro Brumbulli emphasized that banks and EMIs should be viewed as co-actors within the financial system, where joint development brings benefits to the sector as a whole.
During the meeting, representatives of EMIs highlighted several topics requiring further clarification, particularly regarding the division of responsibilities among financial institutions and the management of deposit accounts. Emphasis was placed on the importance of ensuring access to SafeGuard accounts and the need for clarity on how these accounts are administered from both an operational and compliance perspective.
Another key topic of discussion was access to business accounts through Open Banking, a practice currently not applicable to EMIs.
Mr. Deniz Deralla, Director of the Supervision Department at the Bank of Albania, underscored the importance of increasing EMI participation in the SEPA system as a necessary step toward inclusive development of the financial sector and improved service delivery for the public.
At the conclusion of the meeting, it was agreed that EMIs will formally address the Bank of Albania with a request for clarification and alignment of practices across institutions, particularly regarding the mutual obligations and responsibilities between banks and EMIs. The aim is to facilitate and accelerate joint processes. The Bank of Albania confirmed its readiness to address any uncertainties or support needs related to these matters.
This meeting marked an important step toward strengthening institutional dialogue and was the first of its kind to bring together commercial banks, payment institutions, and the Bank of Albania in a joint roundtable organized by AAB.
